When you hear the word “will” in the context of ”last will and testament”, you might think you don’t have enough assets or you’re not old enough to consider getting one. In reality, everyone needs a will.
What is a Will?
You have control over your assets while you’re alive, but when you die, they need to be divided up. A will gives you the power to decide who gets what. You can also appoint an executor to carry out your wishes. Probably most important, if you’re a parent your will can appoint guardians for your children.
A will is a complicated legal document not to be taken lightly. It dictates how your assets are distributed after your death. If you pass without having a will, state law governs instead of a will carefully and personally crafted by an experienced lawyer.
If you don’t have a will, the state decides who inherits your property and possessions. That could mean anything from leaving everything to your spouse to giving it all to charity. With a will in place, your assets will divided how you specifically choose.
What Makes a Will Valid?
Probate court is where the legality of wills are proven. It is not where the terms of the will are carried out, nor where tax liabilities are calculated. It is only where the validity of the will is proven and accepted. Don’t be confused by TV shows and legal thrillers that suggest that probate is a long, public fight over who will inherit what. All they do is determine the validity of the document.
Who needs a will?
Honestly? Everyone. But especially if you fall into one of the following categories:
- Married people
- Parents
- People who have lots of assets
- People who have lots of debt
When Should I Get a Will?
You need a will as soon as possible so that your family doesn’t have to deal with an unexpected financial hardship in addition to grieving for you. If you have a will in place, you save the loved ones you leave behind a lot of headaches and they also avoid dealing with probate court.
If you fall into one of the above categories and don’t have a will, send us a message today to take advantage of our flat-fee services.
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